Market Overview for Axie Infinity/Tether (AXSUSDT) - 2025-10-01

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• Price surged from $2.03 to $2.205 amid strong bullish momentum in afternoon hours.
• Key resistance appears to form above $2.119 as price consolidates post-breakout.
• Volatility and turnover spiked during the 09:00–10:00 ET window, confirming breakout strength.
• RSI suggests overbought conditions near 70, while MACD signals a bullish crossover.
• Price may test the 2.179–2.184 consolidation range for possible pullback support.

The 24-hour period for Axie Infinity/Tether (AXSUSDT) began at $2.03 and climbed to a high of $2.205 before closing near $2.184 at 12:00 ET. Total volume amounted to approximately 920,716.53, with a turnover of roughly $1,954,182.51. The price action reflected a strong breakout in the late morning and early afternoon, followed by a consolidation phase and minor pullback into the early evening.

Structure & Formations

Price moved decisively from a morning base near $2.03–2.113 to a high of $2.205, forming a bullish breakout. The key support levels are now seen around $2.179–2.184, while resistance remains at the 2.166–2.205 swing high. A notable pattern is the engulfing bullish candle on the 15-minute chart at 09:00 ET, which confirmed a strong move higher. A doji at 14:45 ET suggests indecision ahead of further upward movement.

Moving Averages

The 15-minute chart shows the price closing above the 20 and 50 SMA, indicating a short-term bullish bias. On the daily chart, the 50, 100, and 200 SMA are expected to provide directional context, with the 50 SMA likely acting as dynamic support or resistance near the $2.17–2.18 range.

MACD & RSI

The 15-minute MACD crossed above the signal line in the late morning, confirming the bullish breakout. RSI climbed into overbought territory near 70, suggesting a potential correction. However, the sustained momentum and volume suggest the trend may not reverse immediately. A drop below 60 RSI could indicate a short-term pullback, while a close above 70 may prolong the bullish momentum.

Bollinger Bands

Volatility expanded during the breakout phase, pushing the price outside the upper Bollinger Band. The bands have since widened, reflecting increased uncertainty. Price is now consolidating near the middle band, which may serve as a support/resistance line. A move below the lower band could signal a shift in sentiment.

Volume & Turnover

Volume spiked during the breakout, with a peak of $93,287.27 at 09:00 ET. Turnover spiked in sync, confirming the strength of the move. The price and turnover are aligned, suggesting no divergence. This alignment supports the idea of a genuine bullish continuation, though a pullback is expected if volume fails to support further gains.

Fibonacci Retracements

Fibonacci levels on the recent 15-minute move from $2.03–2.205 suggest key retracement levels at $2.179 (38.2%) and $2.147 (61.8%). Price is now consolidating near 38.2% retracement, which may act as a pivot point. A break below 2.179 could lead to a test of the 61.8% level or even a retest of the morning base.

Backtest Hypothesis

Given the alignment of volume, price, and momentum indicators, a viable backtest strategy would involve a long entry on a close above the 20-period SMA on the 15-minute chart, confirmed by a bullish MACD crossover. A stop-loss could be placed just below the 61.8% Fibonacci retracement level at $2.147. Targets could be set at the prior 2.205 high or the next resistance level above $2.214. This strategy would aim to capture continuation moves in a trending environment while managing risk through defined levels.